Bessent Sees Deficit Peak Under Trump | Business and Finance News

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Recorded20 Aug 2026

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Treasury Secretary Scott Bessent signals the U.S. budget deficit may have peaked under Trump, amid a record-shattering $430 billion shortfall in July alone and a staggering $1.8 trillion gap so far this year. With Trump and OMB Director Russell Vought pushing aggressive spending cuts, the White House is betting on tariffs to generate revenue — despite legal setbacks — with Bessent confidently projecting tariff income will match 2025 projections, even without refunding businesses. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/2be8bbe5b89ce3d7

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